Islamabad, Moscow sign gas pipeline pact today

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Islamabad

Pakistan and Russia are set to formally sign today an amended Inter-Governmental Agreement (IGA) for the Pakistan Stream Gas Pipeline (PSGP) project Pakistan’s Ambassador to Russia, Shafqat Ali Khan, will sign the protocol on the amendments to the agreement on behalf of Pakistan in Moscow on Friday.

The cost of the project has been estimated at $2.25 billion by Pakistani officials, which is not yet finalised by the Russian side.

Under the revised agreement, Pakistan will own 74 percent stakes in the pipeline and Russia 26 percent.

Once the amended agreement is signed, both sides will have to sign within 60 days the shareholding agreement, heads of agreement under various commercial arrangements.—TLTP

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